It seems like the market is improving. Sales have been increasing and here are 8 areas that are showing signs of a recovery. I have been experiencing a market that resembles the last seller’s market not a buyer’s market. There is not a lot of inventory available for all of the buyers here in the ... [Read More]
It seems like the market is improving. Sales have been increasing and here are 8 areas that are showing signs of a recovery.
I have been experiencing a market that resembles the last seller’s market not a buyer’s market. There is not a lot of inventory available for all of the buyers here in the Bay Area. I have a property for sale in Pacifica, Ca, listed at $338k and received 6 offers and all above the list price. I have been also representing buyers and making offers to purchase, but have been in bidding wars. In San Mateo county, it would take approx. 4.1 months to sell all of the homes that are on the market compared to 4.5 months same time last year. Where are all of the bank owned properties?
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Excellent interest rates for new mortgages that will make payments lower. With the lower interest rates you will need to make less to qualify. Rates have not been like this for 40 years and may not be again! The marketplace is experiencing lower prices, which translates to more selection and opportunity for buyers. Sellers are ... [Read More]
Excellent interest rates for new mortgages that will make payments lower. With the lower interest rates you will need to make less to qualify. Rates have not been like this for 40 years and may not be again!
The marketplace is experiencing lower prices, which translates to more selection and opportunity for buyers.
Sellers are more willing to negotiate on their home– not just on price but on other things. Buyers who are still in the market are probably very serious and definitely worth working with.
People were still buying homes in the early 80’s when interest rates were18% for FHA and 7 points. Buying a home, even at high interest rates was still a better alternative than renting. If a person has a job and mediocre credit, buying a home is a definite recommendation. The mediocre rate is probably 8%, great time for mediocre credit.
People moving up from start homes to average or mid-price homes are also likely to continue to buy even in slow times. The reason is that they have equity in their current home and with the low rates available, can
afford a much larger home at close to the same payment they are currently making. The buyer can also pull equity or buy investment property.
Thats why you should buy your house now!
